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TOPIC: Antofagasta Slashes Dividend

Antofagasta Slashes Dividend 17 Aug 2022 14:30 #1

  • Elena Saratov
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Yesterday I had to be somewhere but this share recovered most of the losses reducing my gains.
Last night there was further bad news as a collapse on a platform for a Mining Operation on the coast.
Chile Government launches enquiry, demanded hourly drones to monitor environmental contamination.
No word from the Company how this may impact the project.
So today I opened further shorts that have negated some losses from positions I opened after the original.
These now show more profit than my losing positions.
Down 29.5p at the point of writing.
Deuchebank dropped taget from 1250p to 1200p, so I have to be careful here. I may close 2/3 of my entries and let the rest ride?
Undecided.
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Antofagasta Slashes Dividend 13 Aug 2022 10:31 #2

  • Elena Saratov
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Chilean Copper Miner reports drop in Revenue.
Slashes dividend from 23p to 9p.
Well I love shorting!
Volatile share but since I opened the first short position on Thursday both trading sessions were down.
I am tempted to open more shorts as this one drops.
They have also announced a project will have an over 30% increase in costs.
The Year range from 971.20p to 1799.50p tells me that the smart money was ahead of the game here.
I would not be surprised if the market starts falling soon, maybe not the big sell off? But going short on a company like this one could be a great trade.
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